The Biden administration's Beneficial Ownership Information (BOI) rule has come under scrutiny for imposing new requirements on small businesses during a period of inflation. The rule mandates that small business owners disclose their personal information to the federal government, with non-compliance resulting in a fine of $500 per day. Critics argue that this regulation adds unnecessary bureaucracy and threatens the privacy of small business owners. Notably, certain entities, including Soros-funded NGOs and large banks, are reportedly exempt from these requirements. Lawmakers, including Senator John Boozman, are advocating for the reversal of this mandate, citing concerns over privacy and the burden placed on small businesses.